OK - let's continue talking about Rev. Benny.
I have to confess (no pun intended) at this point that I have not really researched Hinn's organization to see if it is a 501(c)(3) corporation. If it is such a corporation, then the people who make donations to Hinn's organization can deduct these donations from their taxes. If it is not such a corporation, then donors cannot make such deductions. As I stated in an earlier post, 501(c)(3) organizations have strict reporting requirements with the IRS that must be followed. Any deviations from these strict standards means that said organization is in danger of losing its 501(c)(3) benefit.
If Hinn's organization is not a 501(c)(3), then this does not mean, of course, that it is not an organization that is devoted to charity per se. After all, an organization does not have to be 501(c)(3) to do good deeds. However, it is also obvious that an organization that is not 501(c)(3)compliant has lesser IRS standards that may be a turn-off to some would-be donors.
I have to confess (no pun intended) at this point that I have not really researched Hinn's organization to see if it is a 501(c)(3) corporation. If it is such a corporation, then the people who make donations to Hinn's organization can deduct these donations from their taxes. If it is not such a corporation, then donors cannot make such deductions. As I stated in an earlier post, 501(c)(3) organizations have strict reporting requirements with the IRS that must be followed. Any deviations from these strict standards means that said organization is in danger of losing its 501(c)(3) benefit.
If Hinn's organization is not a 501(c)(3), then this does not mean, of course, that it is not an organization that is devoted to charity per se. After all, an organization does not have to be 501(c)(3) to do good deeds. However, it is also obvious that an organization that is not 501(c)(3)compliant has lesser IRS standards that may be a turn-off to some would-be donors.
NOTE: THE INFORMATION IN THIS BLOG IS NOT LEGAL ADVICE NOR IS IT INTENDED TO BE LEGAL ADVICE. IF THE READER HAS ANY LEGAL QUESTIONS, PLEASE REFER TO AN ATTORNEY.
Have a great and fraud-free day.
----------à>>>>>>>>>>>>>>>gene tausk
No comments:
Post a Comment